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PlanetX Indicator - can this indi be used for trading?

  • #181
  • Mar 6, 2022 8:29am Mar 6, 2022 8:29am
Quoting Brambilla
{quote} I was actually thinking about that issue. Do you think there's a possibility to make a function in the indicator that "reset" it after each new bar like "it is put by new" ? I think it is worth to try to solve this issue also because it doesn't happen only on renko chart but also in standard chart / timeframe as i showed in my earlier videos.
I can think of a way. By using template. And by coding the Autorefresh for applying a specific template every chosen time interval. This can be done by new candle, or by OnTimer().
But, it still will have the downsides I wrote about, resetting the variables.

And yes, that's what I am tryiong to do in my indicator. I am trying to solve this problem in a more soft way.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #182
  • Mar 6, 2022 8:36am Mar 6, 2022 8:36am
Quoting BestTraderEv
{quote} All I'm getting on Renko is this yellow, horizontal line at the very top of the indicator window. {image} When I drop the default MT4 Momentun indicator, I get this: {image}
It's probably a matter of RenkoChart Creator .
Here is the one that I use and it doesn't give me that problem.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 46 KB
Attached File(s)
File Type: ex4 MathTrader7_RenkoChartCreatorEA.ex4   73 KB | 254 downloads
  • #183
  • Mar 6, 2022 8:39am Mar 6, 2022 8:39am
Quoting ohitsyou
{quote} Okay. If the autorefreshing works for you on Renko then I'll build a "Renko" version of PlanetX that executes @transmat's autorefresh code on every new bar. And if @BestTraderEv were to do the same, I would request that we keep Renko and non-Renko versions separate. The focus really is on non-Renko and since this thread is still young I'd prefer not to complicate it unnecessarily.
Name the Autorefresh version with a specific file name, like ie. v3.A, or similar.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #184
  • Mar 6, 2022 8:41am Mar 6, 2022 8:41am
Quoting Brambilla
{quote} It's probably a matter of RenkoChart Creator . Here is the one that I use and it doesn't give me that problem. {image} {file}
I use Renko generator from ovo.cz. The lifetime license is cheap and this generator proved to be reliable and consistent.
What I see on your Renko image is not good, I don't like what I see.
Mine:
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-03-06_154518.jpg Size: 170 KB


Can you share the trend indicator you have on Renko?
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #185
  • Mar 6, 2022 8:49am Mar 6, 2022 8:49am
Quoting BestTraderEv
{quote} I use Renko generator from ovo.cz. The lifetime license is cheap and this generator proved to be reliable and consistent. What I see on your Renko image is not good, I don't like what I see. Mine: {image}
Yes I know, mine is a little bit different but it is still the same concept , it's a " non- gap" version.
  • #186
  • Mar 6, 2022 8:50am Mar 6, 2022 8:50am
Quoting Brambilla
{quote} Yes I know, mine is a little bit different but it is still the same concept , it's a " non- gap" version.
Can you share the trend indicator you have on Renko?
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #187
  • Mar 6, 2022 8:56am Mar 6, 2022 8:56am
Quoting Brambilla
{quote} Yes I know, mine is a little bit different but it is still the same concept , it's a " non- gap" version.
And yours is EA, mine is indicator.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #188
  • Mar 6, 2022 8:59am Mar 6, 2022 8:59am
Quoting BestTraderEv
{quote} Can you share the trend indicator you have on Renko?
Yes, here they are .
They can also be used in confirmation with PlanetX.
Attached File(s)
File Type: ex4 HalfTrend 2.ex4   29 KB | 219 downloads
File Type: mq4 non-repainting-supertrend.mq4   12 KB | 222 downloads
  • #189
  • Mar 6, 2022 9:01am Mar 6, 2022 9:01am
Comparing the two Renko generators:
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-03-06_160058.jpg Size: 308 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #190
  • Mar 6, 2022 9:05am Mar 6, 2022 9:05am
Quoting Brambilla
{quote} Yes, here they are . They can also be used in confirmation with PlanetX. {file} {file}
Thanks a million!
I was working on something similar, but yours look better than what I created.
I am more interested in the Half trend one, though I might check out this version of supertrend on standard timeframes.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #191
  • Mar 6, 2022 9:48am Mar 6, 2022 9:48am
After a while...
I have compared the Half trend indicator with PlanetX_OnChart, and the conclusion is that if I have PlanetX_OnChart, I don't need the Half trend.
Half trend or even the supertrend one is just too late. We should not wait, we should buy and sell when the Stop Loss distance is minimum, and let the trade run, when it goes in our direction, for a greater distance than our Stop Loss.

If trader is waiting for confirmation, then the confirmation is much better in PlanetX and the oscillators.
The confirmation is after the marker appears and the trend-momentum is still in the direction of the marker when price pulls back.

The ideal for trading Renko is that Stop Loss should be at Low for Buy and at High for Sell, but the Renko should be with wicks. And that should be only one Renko Brick + Wick.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #192
  • Mar 6, 2022 9:53am Mar 6, 2022 9:53am
Quoting BestTraderEv
{quote} Name the Autorefresh version with a specific file name, like ie. v3.A, or similar.
Okay -- will do...
  • #193
  • Edited 10:20am Mar 6, 2022 10:03am | Edited 10:20am
Quoting BestTraderEv
{quote} All I'm getting on Renko is this yellow, horizontal line at the very top of the indicator window. {image} When I drop the default MT4 Momentun indicator, I get this: {image}
Okay -- I know the issue. I normalize (i.e. rescale) its values to match with the Awesome indicator so that all three indicators have a midline of '0'. When you drag / drop an indicator onto a chart with an existing indicator whose scale is different then MT4 handles the rescaling.

I need to noodle on this and come up with a different way of applying the momentum indicator and, perhaps, the transitons. A secret lurker sent me a clue...
  • #194
  • Mar 6, 2022 10:04am Mar 6, 2022 10:04am
Quoting ohitsyou
{quote} Okay -- will do...
Hi,
I forgot to mention if you could add a NumBar Function and Expose the buffers of the version v4.0 / 5.0 ( the ones with Open Price ).
Thanks
  • #195
  • Mar 6, 2022 10:19am Mar 6, 2022 10:19am
Quoting Brambilla
{quote} Hi, I forgot to mention if you could add a NumBar Function and Expose the buffers of the version v4.0 / 5.0 ( the ones with Open Price ). Thanks
I understand the purpose of exposing NumBars, but I'm not inclined to do that because you know what people will do -- they will put in numbers like 10,000 or 100,000 and then complain that the indi doesn't work or that it is a resource hog or that MT4 complains their chart is too slow loading, etc. There's no reason why anyone would need more than 500 bars when trading. The only reason why you might want gazillion bars is if you need to go back in time to check something. But for real-time trading 500 is plenty. And PlanetX exposes a max of 2000, I believe.
  • #196
  • Mar 6, 2022 10:42am Mar 6, 2022 10:42am
Quoting ohitsyou
{quote} I understand the purpose of exposing NumBars, but I'm not inclined to do that because you know what people will do -- they will put in numbers like 10,000 or 100,000 and then complain that the indi doesn't work or that it is a resource hog or that MT4 complains their chart is too slow loading, etc. There's no reason why anyone would need more than 500 bars when trading. The only reason why you might want gazillion bars is if you need to go back in time to check something. But for real-time trading 500 is plenty. And PlanetX exposes a max...
Yes, i know 2000 should be enough but, at least for me using a renko chart, to visual back-test like 3-4 days , i would need a lot more bar, for now I can only visualize the last 2 days. I get the point of the people that may complain about, but everybody should be aware that increasing the histobars can slow or crash mt4, maybe they can be advised with a comment xD
Of course it is not a priority, it would be better focusing on the " refresh " issue .
Thanks
  • #197
  • Mar 6, 2022 11:01am Mar 6, 2022 11:01am
Quoting BestTraderEv
{quote} Can you standardize versions 4.0 & 5.0 to version 3.0, please? In versions 4.0 & 5.0 you did not include this: {image} This fact causes a problem and the newer versions will not cooperate with my indicator, because iCustom() will be missing data fields.
Here again is v3, v4 and v5 -- their buffer IDs all match and are standardized with v3. This v3 is the same as the original with the exception that I added text to its buffer ID labels. I've also updated these files in post #1.

Attached File(s)
File Type: ex4 OIY-PlanetX-Hist-v3.0.ex4   23 KB | 245 downloads

Attached File(s)
File Type: ex4 OIY-PlanetX-Hist-v4.0.ex4   23 KB | 216 downloads

Attached File(s)
File Type: ex4 OIY-PlanetX-Hist-v5.0.ex4   26 KB | 200 downloads


I'm currently working on v7 that looks to fix the issue related to transition markers, I mean transition **Alerts**.
  • #198
  • Mar 6, 2022 11:06am Mar 6, 2022 11:06am
Quoting Brambilla
{quote} Yes, i know 2000 should be enough but, at least for me using a renko chart, to visual back-test like 3-4 days , i would need a lot more bar, for now I can only visualize the last 2 days. I get the point of the people that may complain about, but everybody should be aware that increasing the histobars can slow or crash mt4, maybe they can be advised with a comment xD Of course it is not a priority, it would be better focusing on the " refresh " issue . Thanks
Right -- people shouldn't complain, but in the real-world they do. And I would be the one left to deal with them and I just don't have that kind of patience. If you want to post your email address so I can send all future complainers to you then I might consider it...
  • #199
  • Mar 6, 2022 11:19am Mar 6, 2022 11:19am
Quoting ohitsyou
{quote} Right -- people shouldn't complain, but in the real-world they do. And I would be the one left to deal with them and I just don't have that kind of patience. If you want to post your email address so I can send all future complainers to you then I might consider it...
Hahaha , I understand, those people can really get on your nerves. No problem , looking forward for major updates !
Keep going
  • #200
  • Mar 6, 2022 12:13pm Mar 6, 2022 12:13pm
Another way to refresh any indicator in the way that @Brambilla does it manually, is to code a seperate indicator which will do these things:
1. On every new candle remove the indicator from chart,
2. Emulate keyboard action and apply the indicator to chart.
This requires to assign a keyboard shortcut to the indicator.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
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